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Novak, Geronimus, and Martinez-Cardoso find fear of immigration can affect Latino birth outcomes

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Workshops on EndNote, NIH reporting, and publication altmetrics, Jan 26 through Feb 7, ISR

2017 PAA Annual Meeting, April 27-29, Chicago

NIH funding opportunity: Etiology of Health Disparities and Health Advantages among Immigrant Populations (R01 and R21), open Jan 2017

Russell Sage 2017 Summer Institute in Computational Social Science, June 18-July 1. Application deadline Feb 17.

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Mon, Jan 23, 2017 at noon:
Decline of cash assistance and child well-being, Luke Shaefer

What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement

Archived Abstract of Former PSC Researcher

Hanlon, Michelle, and Joel Slemrod. 2009. "What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement." Journal of Public Economics, 93(1-2): 126-141.

We study the stock price reaction to news about corporate tax aggressiveness. We find that, on average, a company's stock price declines when there is news about its involvement in tax shelters. We find some limited evidence for cross-sectional variation in the reaction. For example, the reaction is more negative for firms in the retail sector, suggesting that part of the reaction may be a consumer/taxpayer backlash. In addition, the reaction is less negative for firms that are viewed to be generally less tax aggressive, as proxied by the firm's cash effective tax rate. We interpret this as being consistent with the market reacting positively to evidence that a firm is trying to reduce taxes when their financial reports would lead one to believe the firm is not tax aggressive. (c) 2008 Elsevier B.V. All rights reserved.

DOI:10.1016/j.jpubeco.2008.09.004 (Full Text)

Country of focus: United States of America.

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